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USA. North American airport, event venue and downtown food & beverage operator Delaware North Companies has announced it will acquire a majority stake in food service and hospitality company Patina Restaurant Group.
Buffalo-based Patina Restaurant Group operates in the premium sector of the restaurant and catering industry. It runs restaurants and catering and food-service operations at high-profile venues in New York, California, Las Vegas and Orlando.
The acquisition will bring the total number of employees at the combined companies to nearly 60,000. Total revenue for Delaware North is expected to exceed US$3 billion in 2014.
Delaware North Companies Principal Jeremy Jacobs Jr. said: “Patina Restaurant Group is one of the most respected restaurant companies in North America, with an unequalled group of world-class venues and restaurant locations. Nick Valenti and Founder/Chef Joachim Splichal have built an exceptional company focused on culinary excellence and outstanding service that we are proud to add to Delaware North’s world-class portfolio.”
Patina Restaurant Group CEO Nick Valenti added: “Joachim and I are delighted to now be a part of Delaware North, a company we’ve admired for many years.”
Patina Restaurant Group is currently majority owned by Shidax Corporation, a publicly traded Japanese food service company. The deal is expected to be completed at the end of March this year and Shidax will continue to own a minority interest.
About Patina Restaurant Group
Patina Restaurant Group’s portfolio on the West coast of the USA includes the Michelin-starred Patina Restaurant in the Walt Disney Concert Hall, Nick & Stef’s Steakhouse, Café Pinot at the Maguire Gardens, Catal (and three other restaurants in Anaheim’s Downtown Disney District), Leatherby’s Cafe Rouge at the Segerstrom Center for the Arts, Hollywood Bowl, Pinot Brasserie in Las Vegas and catering and food services in museums and cultural centres throughout California.
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